Dragged down by massive selling in stock markets, investors’ wealth worth over Rs.1 lakh crore was wiped out on Friday with the BSE benchmark Sensex falling by over 450 points to close below the key 20000-mark.
The Sensex settled at 19760.30, down 455.10 points or 2.25 per cent. The broad-based Nifty of NSE closed 2.26 per cent lower at 5985.95.
Following the sell-off, investors lost over Rs.1 lakh crore with the BSE ending with a market capitalisation of Rs. 66,78,736.64 crore.
Belying hopes of further rate cuts, the Reserve Bank on Thursday said there were upside risks to inflation and containing the high current account deficit would be its priority.
Economic growth rate slipped to a decade low of 5 per cent in 2012-13 on account of poor performance of farm, manufacturing and mining sectors.